Embotech raise CHF 10 million to accelerate deployment of automation systems and solutions in factory grounds, logistics and mining.

17.12.2021 10:41, Guillaume Tinsel

Embotech, a pioneer in software for autonomous systems for both commercial and passenger vehicles and smart factories, today announced it closed CHF 10 million in Series A funding, led by ZF Friedrichshafen AG, alongside South Korean VC FuturePlay and angel investors such as Emilio Frazzoli, ETH professor and entrepreneur, co-founder of nuTonomy. Existing investors, including Bystronic AG who is leading investments in Embotech’s Industrial Automation business unit, also participated in the round. Embotech participated in ESA BIC Switzerland and Venture Leaders Technology in 2016, and ranked at the TOP 100 Swiss Startup Award in 2018.

With CHF 17 million raised to date, Embotech is well positioned to scale its efforts in the automation software for commercial and passenger vehicles as well as robotics on private grounds such as distribution centers, ports, car factories, mines and smart factories.

“While autonomous driving on public roads currently remains a promise of the future, applications on private grounds already offer a working business case to the end customer, be it a passenger car OEM driving cars off the production line, a logistics company transferring containers from a factory to an inland port, or a mining company covering large distances with autonomous hauling trucks. Embotech offers the autonomous systems to drive these vehicles safely and efficiently and combines it with robotics for automated charging”, said Andreas Kyrtatos, CEO of Embotech.

Operations on private grounds still rely largely on manned, diesel-powered vehicles, with all their inherent shortcomings such as the unavailability of suitable labor and the ever more excessive carbon footprint. Gated areas, such as distribution centers and ports with high volume and 24/7 operations are particularly vulnerable to these problems. Embotech’s solution is autonomous, fully electric and digitally integrated vehicles that can perform all driving tasks from dock to loading bays, and then charge themselves as needed.

“There are few companies worldwide that can offer both a L4 autonomous system for private grounds combined with robotics for autonomous charging. Embotech is one of them”, Kyrtatos continues.

With the seed and post-seed rounds in 2017 and 2018, respectively, the Embotech team has grown to 45 people while continuing to develop its core software products FORCESPRO, a state-of-the-art mathematical optimization engine and basis of all other Embotech products, and PRODRIVER, its virtual driver software. This technology has received multiple awards and nominations in the past few years, most recently Switzerland’s prestigious Swiss Technology Award 2021. The Series A funding will be used to grow the team further – by 50% in the next two years – to robustify Embotech’s existing software products and further develop full L4 autonomy systems for gated areas together with key partners.

Embotech and ZF have signed a joined partnership agreement with focus on the development of a common TaaS solution and an intelligent Automated Cruise Control with predictive energy management functions. With its broad technology and product portfolio and global presence, ZF is poised to accelerate the growth of Embotech.

Embotech participated in ESA BIC Switzerland and Venture Leaders Technology in 2016, and ranked at the TOP 100 Swiss Startup Award in 2018.

Source : Embotech Press Release